Pak Rupee Weakens Against the Dollar – Research Snipers

Pak Rupee Weakens Against the Dollar

$150 billion

Pakistani Rupee has weakened against the dollar. The rupee reached  Rs132.45/Rs132.64 against the dollar in the inter-bank market on Friday. According to the State Bank of Pakistan on Thursday the rupee was at Rs132.44/Rs132.62. In the past few days, rupee did strengthen against the dollar after Saudi Arabia agreed to give $6-billion assistance package to Pakistan.

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Earlier when the PTI government decided to go to International Monetary Fund’s (IMF) to overcome the fiscal deficit the rupee devalued against the dollar. Since December 2017, it was the fifth time that the rupee depreciated.